The Experts below are selected from a list of 16029 Experts worldwide ranked by ideXlab platform

Barrett A Slade - One of the best experts on this subject based on the ideXlab platform.

  • characteristics of a full disclosure transaction based index of Commercial Real Estate
    The journal of real estate portfolio management, 1999
    Co-Authors: David H Downs, Barrett A Slade
    Abstract:

    This study addresses the characteristics of a transaction-based index of Commercial Real Estate as reported in a full-disclosure market. Prior research on transaction-based indices has enumerated various shortcomings for Commercial Real Estate markets. This study circumvents many of these problems by using a large data set of Commercial property transactions obtained for the Phoenix, Arizona metropolitan statistical area. The empirical analysis demonstrates that investors stand to gain considerable insight by comparing full-disclosure, transaction-based indices with voluntary-disclosure, appraisal-based indices. The results suggest that full-disclosure indices avoid some of the institutional biases associated with other benchmarks of Commercial Real Estate performance. In addition, some public policy issues emerge on the role of state mandated disclosure rules.

  • Characteristics of a Full-Disclosure, Transaction-Based Index of Commercial Real Estate
    Journal of Real Estate Portfolio Management, 1999
    Co-Authors: David H Downs, Barrett A Slade
    Abstract:

    Executive Summary. This study addresses the characteristics of a transaction-based index of Commercial Real Estate as reported in a full-disclosure market. Prior research on transaction-based indices has enumerated various shortcomings for Commercial Real Estate markets. This study circumvents many of these problems by using a large data set of Commercial property transactions obtained for the Phoenix, Arizona metropolitan statistical area. The empirical analysis demonstrates that investors stand to gain considerable insight by comparing full-disclosure, transaction-based indices with voluntary-disclosure, appraisal-based indices. The results suggest that full-disclosure indices avoid some of the institutional biases associated with other benchmarks of Commercial Real Estate performance. In addition, some public policy issues emerge on the role of state mandated disclosure rules.

David H Downs - One of the best experts on this subject based on the ideXlab platform.

  • characteristics of a full disclosure transaction based index of Commercial Real Estate
    The journal of real estate portfolio management, 1999
    Co-Authors: David H Downs, Barrett A Slade
    Abstract:

    This study addresses the characteristics of a transaction-based index of Commercial Real Estate as reported in a full-disclosure market. Prior research on transaction-based indices has enumerated various shortcomings for Commercial Real Estate markets. This study circumvents many of these problems by using a large data set of Commercial property transactions obtained for the Phoenix, Arizona metropolitan statistical area. The empirical analysis demonstrates that investors stand to gain considerable insight by comparing full-disclosure, transaction-based indices with voluntary-disclosure, appraisal-based indices. The results suggest that full-disclosure indices avoid some of the institutional biases associated with other benchmarks of Commercial Real Estate performance. In addition, some public policy issues emerge on the role of state mandated disclosure rules.

  • Characteristics of a Full-Disclosure, Transaction-Based Index of Commercial Real Estate
    Journal of Real Estate Portfolio Management, 1999
    Co-Authors: David H Downs, Barrett A Slade
    Abstract:

    Executive Summary. This study addresses the characteristics of a transaction-based index of Commercial Real Estate as reported in a full-disclosure market. Prior research on transaction-based indices has enumerated various shortcomings for Commercial Real Estate markets. This study circumvents many of these problems by using a large data set of Commercial property transactions obtained for the Phoenix, Arizona metropolitan statistical area. The empirical analysis demonstrates that investors stand to gain considerable insight by comparing full-disclosure, transaction-based indices with voluntary-disclosure, appraisal-based indices. The results suggest that full-disclosure indices avoid some of the institutional biases associated with other benchmarks of Commercial Real Estate performance. In addition, some public policy issues emerge on the role of state mandated disclosure rules.

Jay Spivey - One of the best experts on this subject based on the ideXlab platform.

  • Slicing, Dicing, and Scoping the Size of the U.S. Commercial Real Estate Market
    Journal of Real Estate Portfolio Management, 2010
    Co-Authors: Andrew Florance, Norm Miller, Ruijue Peng, Jay Spivey
    Abstract:

    Executive Summary. We use a Census approach to calculate the size of the built Commercial Real Estate market in the United States. We provide estimates of values at the summary level as of mid and late 2009 and relate these to the concentrations observed by state. This likely corresponds to the bottom of the current cycle providing a reference point for future comparisons. At least $4 trillion has been lost on Commercial Real Estate from 2006 to early 2010. As of the end of 2009, the total value of Commercial Real Estate, excluding parking lots, is about $11 trillion including owner-occupied property. If we eliminate the specialty property or simply use the mid-point in 2009, it is closer to $9 trillion. What is truly amazing is that for some property types, these values are about half of replacement cost.

Andrew Florance - One of the best experts on this subject based on the ideXlab platform.

  • Slicing, Dicing, and Scoping the Size of the U.S. Commercial Real Estate Market
    Journal of Real Estate Portfolio Management, 2010
    Co-Authors: Andrew Florance, Norm Miller, Ruijue Peng, Jay Spivey
    Abstract:

    Executive Summary. We use a Census approach to calculate the size of the built Commercial Real Estate market in the United States. We provide estimates of values at the summary level as of mid and late 2009 and relate these to the concentrations observed by state. This likely corresponds to the bottom of the current cycle providing a reference point for future comparisons. At least $4 trillion has been lost on Commercial Real Estate from 2006 to early 2010. As of the end of 2009, the total value of Commercial Real Estate, excluding parking lots, is about $11 trillion including owner-occupied property. If we eliminate the specialty property or simply use the mid-point in 2009, it is closer to $9 trillion. What is truly amazing is that for some property types, these values are about half of replacement cost.

Kundan N Kishor - One of the best experts on this subject based on the ideXlab platform.

  • understanding the relationship between public and private Commercial Real Estate markets
    Journal of Property Research, 2020
    Co-Authors: Kundan N Kishor
    Abstract:

    This paper provides a modelling framework to examine the very low correlation at short horizons and high correlation at long horizons between private and public Commercial Real Estate returns. For ...

  • understanding the relationship between public and private Commercial Real Estate markets
    MPRA Paper, 2017
    Co-Authors: Kundan N Kishor
    Abstract:

    This paper studies the dynamic relationship between public and private Commercial Real Estate market in the U.S. To do so, we propose a correlatedcunobserved component model with a common trend and Markov-Switching heteroscedasticity. This model addresses the dichotomy in the relationship between these two markets in the short-run and the long-run by allowing for a common long-run trend and correlated short-run cycles. To take into account the non-linearity in the Commercial Real Estate dynamics, we also allow Markov regime-switching in shocks to the trend and the cycles. Consistent with the findings of the literature, we find almost one-for-one comovement in these two markets in the long-run. However, our results suggest significant difference in the correlation of the cycles in low volatility and high volatility regimes. We find high degree of correlation between private and public Commercial Real Estate cycles only in the high volatility regime. This explains the low correlation in the return of these two markets as has been widely reported in the literature. Moreover, we also find that the past movements in public Commercial Real Estate cycle predict future movement in private Commercial Real Estate cycles reflecting the forward-looking nature of the public Commercial Real Estate market.